Individual income tax: credit; e-bike transportation incentive program act; create. Creates new act.
Impact
The bill impacts state laws by introducing financial incentives for low-income residents to purchase e-bikes, potentially reducing transportation costs and promoting eco-friendly commuting options. The MEDC will issue vouchers covering up to 90% of the retail price of eligible e-bikes or a maximum of $500, thereby encouraging participation among economically disadvantaged individuals. Additionally, the bill stipulates that the MEDC can contract with third parties to support program administration, which may enhance the efficiency and reach of the initiative.
Summary
House Bill 4491, known as the Michigan e-bike transportation incentive program act, aims to establish a program providing discount vouchers for the purchase of eligible electric bicycles (e-bikes) to income-qualified residents. The bill is intended to promote affordable and sustainable transportation options in Michigan by encouraging the use of e-bikes. Under this legislation, the Michigan Economic Development Corporation (MEDC) is tasked with administering the program, which includes defining eligible e-bikes, managing the application process for vouchers, and overseeing participating retailers.
Sentiment
The sentiment surrounding HB 4491 is largely positive among proponents who view it as a step toward making transportation more accessible and sustainable in Michigan. Supporters argue that incentivizing e-bike use can contribute to reduced traffic congestion and lower carbon emissions. However, there may be some skepticism regarding the effective implementation of the program and whether the funds allocated will be sufficient to meet demand.
Contention
Notable points of contention include concerns about the program's effectiveness in actually increasing e-bike accessibility for low-income residents. Critics question whether the proposed funding and administrative processes are adequate for successfully reaching eligible individuals. Furthermore, there is an ongoing debate about the long-term sustainability of such incentives and their impact on the broader transportation ecosystem in Michigan.
Individual income tax: economic development; research and development income tax credit program; create. Creates new act. TIE BAR WITH: HB 5100'23, HB 5101'23, HB 5102'23
An Act to Modernize Maine's Business Incentive Programs by Creating the Dirigo Business Incentives Program and Eliminating Certain Other Tax Incentive Programs